Wall Street brokerages forecast that Lincoln Electric Holdings, Inc. (NASDAQ:LECO) will announce $763.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Lincoln Electric’s earnings. The highest sales estimate is $779.00 million and the lowest is $745.00 million. Lincoln Electric reported sales of $737.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The firm is scheduled to report its next earnings report on Thursday, October 24th.
On average, analysts expect that Lincoln Electric will report full year sales of $3.08 billion for the current financial year, with estimates ranging from $3.05 billion to $3.11 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.19 billion, with estimates ranging from $3.14 billion to $3.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Lincoln Electric.
Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.02). The company had revenue of $777.01 million during the quarter, compared to analyst estimates of $786.03 million. Lincoln Electric had a return on equity of 36.16% and a net margin of 10.42%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 earnings per share.
Shares of NASDAQ:LECO opened at $82.65 on Monday. Lincoln Electric has a 52 week low of $72.28 and a 52 week high of $97.93. The company’s 50 day moving average is $83.56 and its two-hundred day moving average is $84.13. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.84. The company has a market cap of $5.12 billion, a PE ratio of 17.15, a P/E/G ratio of 1.45 and a beta of 1.24.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, September 27th. Lincoln Electric’s payout ratio is 39.00%.
In other Lincoln Electric news, VP George D. Blankenship sold 53,305 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $82.67, for a total transaction of $4,406,724.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.39% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of LECO. Atria Investments LLC acquired a new position in Lincoln Electric during the second quarter valued at approximately $25,425,000. JPMorgan Chase & Co. increased its stake in shares of Lincoln Electric by 19.1% in the second quarter. JPMorgan Chase & Co. now owns 1,682,402 shares of the industrial products company’s stock valued at $135,147,000 after buying an additional 269,842 shares in the last quarter. Keybank National Association OH increased its stake in shares of Lincoln Electric by 0.8% in the first quarter. Keybank National Association OH now owns 1,362,557 shares of the industrial products company’s stock valued at $114,278,000 after buying an additional 10,328 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Lincoln Electric by 4.8% in the second quarter. Janus Henderson Group PLC now owns 1,217,080 shares of the industrial products company’s stock valued at $100,190,000 after buying an additional 55,850 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Lincoln Electric by 0.7% in the first quarter. Principal Financial Group Inc. now owns 1,020,567 shares of the industrial products company’s stock worth $85,597,000 after purchasing an additional 7,525 shares during the period. Institutional investors own 77.32% of the company’s stock.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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